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Submitted by Sanjay Vani on
The big difference between India and China, I think, is the vibrant private sector in India while the enterprise sector is dominated by SOEs in China. Despite the stifling bureaucracy and wide spread corruption, the private sector in India is innovating, growing, and competing in markets which were off limit just a few years ago. The danger, however, is that such private sector led growth has limitations and sooner than later the growth curve will taper off unless there is marked improvement in governance and drastic reduction in corruption. Similarly, the growth curve in China will also reach a plateau without innovative private sector.